BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) Sees Large Growth in Short Interest

BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totaling 16,670 shares, a growth of 92.9% from the May 31st total of 8,642 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 30,444 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MPA. Elyxium Wealth LLC purchased a new stake in BlackRock MuniYield Pennsylvania Quality Fund during the 4th quarter valued at about $27,000. Kestra Advisory Services LLC purchased a new position in BlackRock MuniYield Pennsylvania Quality Fund in the 4th quarter worth approximately $39,000. Sovereign Financial Group Inc. bought a new stake in BlackRock MuniYield Pennsylvania Quality Fund in the first quarter valued at approximately $110,000. Bank of Montreal Can bought a new stake in BlackRock MuniYield Pennsylvania Quality Fund in the fourth quarter valued at approximately $137,000. Finally, Royal Bank of Canada boosted its stake in shares of BlackRock MuniYield Pennsylvania Quality Fund by 44.2% during the fourth quarter. Royal Bank of Canada now owns 16,303 shares of the investment management company’s stock valued at $181,000 after purchasing an additional 5,000 shares during the period. 24.70% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock MuniYield Pennsylvania Quality Fund Price Performance

BlackRock MuniYield Pennsylvania Quality Fund stock remained flat at $11.39 during mid-day trading on Thursday. 21,721 shares of the company’s stock traded hands, compared to its average volume of 34,120. BlackRock MuniYield Pennsylvania Quality Fund has a twelve month low of $10.50 and a twelve month high of $11.87. The business’s 50 day moving average price is $11.29 and its two-hundred day moving average price is $11.29.

BlackRock MuniYield Pennsylvania Quality Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0477 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 5.0%.

BlackRock MuniYield Pennsylvania Quality Fund Company Profile

BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA) is a non-diversified, closed-end management investment company whose primary objective is to provide shareholders with current income exempt from regular U.S. federal and Pennsylvania personal income taxes, and to a lesser extent, capital appreciation. The fund pursues its objective by investing in municipal securities that are issued by or for the benefit of the Commonwealth of Pennsylvania and its political subdivisions.

In managing its portfolio, the fund typically allocates at least 80% of its assets to investment-grade municipal bonds issued within Pennsylvania.